If the house is in the name of my unemployed wife, can I take a?
Yes, you can do that as there is a concept of co-applicant in home loans. A co-applicant in a Home-Loan is an individual who is equally responsible for repaying the loan just like the main borrower. As per the banks' rule, the co-applicant must be blood relatives or immediate family members. The lending institutions allow up to 6 co-applicants in buying a property. Though the criteria for being a co-applicant varies from bank to bank, here are a few general criteria followed by all the banks: Husband and wife: The most preferred co-applicant combination for a home loan is husband and wife. Lenders consider the income of both, husband and wife, for eligibility and approval of the loan. However, if one has a good credit score and can repay the loan in his income, both don't need to be working. Father and son: A combination of father and his son also can co-apply for a home loan. In this case, the final decision depends on the bank to approve. Parents and unmarried daughters: An unmarried daughter can also be co-applicant with either the father or mother for a home loan.